Vanguard Group Inc. Increases Stock Position in SBA Communications Corporation $SBAC

Vanguard Group Inc. boosted its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 0.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 17,760,251 shares of the technology company’s stock after buying an additional 93,582 shares during the period. Vanguard Group Inc. owned approximately 0.17% of SBA Communications worth $4,170,817,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. CVA Family Office LLC lifted its holdings in shares of SBA Communications by 106.3% during the second quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock valued at $31,000 after purchasing an additional 67 shares in the last quarter. Stone House Investment Management LLC purchased a new position in SBA Communications in the 1st quarter worth about $33,000. Geneos Wealth Management Inc. lifted its stake in SBA Communications by 105.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after acquiring an additional 84 shares during the period. Zions Bancorporation National Association UT purchased a new stake in shares of SBA Communications during the 1st quarter valued at about $47,000. Finally, Summit Securities Group LLC bought a new stake in shares of SBA Communications in the first quarter worth approximately $47,000. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SBAC shares. JMP Securities set a $280.00 price objective on shares of SBA Communications and gave the company a “market outperform” rating in a report on Tuesday, August 5th. KeyCorp decreased their target price on shares of SBA Communications from $280.00 to $235.00 and set an “overweight” rating for the company in a research note on Wednesday, September 17th. Citigroup lowered their price target on SBA Communications from $265.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday, October 16th. Cowen reaffirmed a “buy” rating on shares of SBA Communications in a report on Tuesday, November 4th. Finally, Williams Trading set a $237.00 price objective on SBA Communications in a research report on Tuesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $238.06.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $196.09 on Thursday. SBA Communications Corporation has a 1-year low of $185.45 and a 1-year high of $245.16. The company’s fifty day simple moving average is $195.26 and its 200-day simple moving average is $215.18. The stock has a market capitalization of $20.89 billion, a PE ratio of 24.92, a P/E/G ratio of 2.01 and a beta of 0.80.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, November 3rd. The technology company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.21 by $0.09. The company had revenue of $732.33 million for the quarter, compared to analysts’ expectations of $715.65 million. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%.SBA Communications’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the firm earned $3.32 EPS. SBA Communications has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Thursday, November 13th will be paid a $1.11 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $4.44 annualized dividend and a dividend yield of 2.3%. SBA Communications’s dividend payout ratio (DPR) is 57.89%.

SBA Communications Company Profile

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.